[TEMP CHECK] Onboard syrupUSDC to Aave V3 Core Instance

Author: ACI

Date: 2025-06-18

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Summary

This proposal seeks to onboard syrupUSDC — a USDC-based yield-bearing token issued by Maple Finance — as a collateral asset on Aave V3 Core Instance. syrupUSDC is built on top of Maple's infrastructure and offers access to overcollateralized, fixed-rate institutional loans, providing high and consistent yields to DeFi users.

Maple, launched in 2021, is an on-chain Asset Manager with decades of traditional finance and crypto experience. As of June 2025, Maple has $2.3b in AUM. Maple combines deep capital markets expertise with DeFi innovation to offer digital asset lending and yield products.

Motivation

Onboarding syrupUSDC to Aave V3 Core Instance provides:

• New Token Type: A new collateral option backed by real yield from fixed-rate institutional lending strategies
• AAVE TVL: Maple has a large network of institutional capital allocators, ready to allocate $500M+ USDC/USDT into syrupUSDC if it is available on Aave as collateral to loop it and get to their hurdle rates.
• Higher Rates and Utilization: Increases USDC rates and utilization due to strong expected borrower demand.
• Growth Incentives: Maple has $250k of incentives available to bootstrap the growth for Aave users.

The Aave and Maple partnership will enable:

• New Yield Opportunities: Commercial alignment with Maple's large institutional network, unlocking additional yield generation opportunities for Aave.
• GHO Adoption: Maple can help with growing other strategic priorities for Aave, including GHO adoption. Eg GHO lending to institutions.
• Future Collaboration: Future asset listings, including the Maple liquid yielding Bitcoin asset.

Specification

Ticker: syrupUSC

Yield bearing token.

It's a USDC based, yield bearing token whose principal and yield are backed by the secured lending strategy of Maple. (More details below).

Technical details: ERC-4626 token standard built on top of the Maple's smart contracts. High Yield. Maple has a track record of generating consistent high underlying yield of 7-15% net APY.

Loans are fully collateralised by digital assets ensuring lending positions are protected, even if borrowers default or asset prices fall. More on: https://app.maple.finance/earn.

Risk Parameters will be provided by Risk Services Providers at the earliest possible on ARFC stage and ARFC will be updated with that feedback.

Useful links:

Website: https://maple.finance/ App: https://app.maple.finance/earn/details

Disclosure

ACI (Aave Chan Initiative) is not affiliated with Maple Finance and has not received compensation for creating this proposal.

Next Steps

1. If consensus is reached on this [TEMP CHECK], escalate this proposal to the Snapshot stage.
2. If the Snapshot outcome is YAE, this proposal will be escalated to ARFC stage.
3. Publication of a standard ARFC, collect community & service providers feedback before escalating proposal to ARFC snapshot stage.
4. If the ARFC snapshot outcome is YAE, publish an AIP vote for final confirmation and enforcement of the proposal.

Copyright

Copyright and related rights waived via CC0.